Fifth Third Bancorp plans to invest a total $1.9 billion to build new branches through 2029, a substantial increase in projected investments since the Cincinnati-based regional lender began expanding into the Southeast seven years ago.

In addition to Florida, North Carolina and South Carolina, Fifth Third is targeting Texas as well for new branches, a move prompted by its planned acquisition of Dallas-based Comerica Inc., said Shawn Niehaus, Fifth Third’s head of consumer banking. The planned investment is much higher than the $225 million for 100 new branches in the Southeast contemplated in 2018. The lender just opened its 200th branch in Florida and 100th in the Carolinas.

“It’s a significant milestone,” Mr. Niehaus said in an interview, “and we’re not done yet.”

When the $10.9 billi

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